Orthopedic Devices Market: Growth, Size, Share, and Trends

This study was done through primary and secondary sources. In-depth secondary research was done to gather insights into the orthopedic devices industry. The findings, assumptions, and market size estimates were then validated through primary research. To determine the total market size, both top-down and bottom-up approaches were used. Then, market segmentation and data triangulation methods were applied to determine the sizes of segments and sub-segments of the orthopedic devices market. The research process also involved conducting analysis of industry trends, segmentation types, key players, competitive landscape, market dynamics, and initiatives of key companies.

Secondary Research

The secondary research phase involved analyzing a wide range of sources, including industry directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, company filings, annual reports, investor presentations, and SEC filings. This research was essential in collecting technical, commercial, and market-related insights into the orthopedic devices sector. It also assisted in knowing key market players, segment classifications, and industry trends. Moreover, secondary research helped in tracking market developments, advanced technologies, and competitive positioning.

A database of major industry players was compiled by reviewing both paid and publicly available data sources. The market evaluation of orthopedic device providers was based on an assessment of their product portfolios, performance, and overall quality. Furthermore, secondary research provided critical insights into the industry’s value chain, the key market participants, and classifications from both technological and market-driven perspectives.

Primary Research

During the primary research, cross sections of sources from the demand and supply sides were interviewed to gather qualitative and quantitative information for this report. At the supply side, primary sources included industry players such as CEOs, vice presidents, marketing and sales directors, technology and innovation directors, and other key executives from leading companies and organizations in the orthopedic devices industry. Demand-side sources comprised hospitals, ambulatory surgery centers, orthopedic clinics, among others. Primary research was conducted to authenticate market segments, monitor key players, and have a sense of market trends. Following market engineering, which included calculation in statistics, segmentation analysis, estimation of the market, forecasting, and data triangulation, primary research was conducted to verify and enhance the key

A breakdown of the primary respondents is provided below:

*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.

Note: Companies are classified into tiers based on their total revenue. As of 2023, Tier 1 = >USD 2 billion, Tier 2 = USD 50 million to USD 2 billion, and Tier 3 = < USD 50 million.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the lab consumable market. These methods were also used extensively to estimate the size of various segments in the market.

To determine the size of the global orthopedic devices market, revenue share analysis was employed with the leading players. In this case, key players in the market have been identified, with their orthopedic devices products business revenues determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of top market players' annual and financial reports. On the other hand, primary research incorporated in-depth interviews with key opinion leaders, in particular chief executive officers, directors, and key marketing executives.

The research methodology used to estimate the market size includes the following:

Data Triangulation

After determining the overall market size through the estimation process, the global orthopedic devices market was categorized into segments. Data triangulation and market breakdown methods were utilized to finalize the market engineering process and obtain precise statistics for each segment. This approach involved analyzing multiple factors and trends from both the demand and supply perspectives. Furthermore, the orthopedic devices market was verified using a combination of top-down and bottom-up approaches.